Okla. Stat. tit. 12A, § 12A-2-506
This is the official text of Okla. Stat. tit. 12A, § 12A-2-506, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Rights of financing agency
Official statutory text
Rights of Financing Agency.
(1) A financing agency by paying or purchasing for value a
draft which relates to a shipment of goods acquires to the extent of
the payment or purchase and in addition to its own rights under the
draft and any document of title securing it any rights of the
shipper in the goods including the right to stop delivery and the
shipper's right to have the draft honored by the buyer.
(2) The right to reimbursement of a financing agency which has
in good faith honored or purchased the draft under commitment to or
authority from the buyer is not impaired by subsequent discovery of
defects with reference to any relevant document which was apparently
regular.
(1) A financing agency by paying or purchasing for value a
draft which relates to a shipment of goods acquires to the extent of
the payment or purchase and in addition to its own rights under the
draft and any document of title securing it any rights of the
shipper in the goods including the right to stop delivery and the
shipper's right to have the draft honored by the buyer.
(2) The right to reimbursement of a financing agency which has
in good faith honored or purchased the draft under commitment to or
authority from the buyer is not impaired by subsequent discovery of
defects with reference to any relevant document which was apparently
regular.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.